Sonata software Limited has received regulatory approval for a trading plan submitted by its Employee Welfare Trust, marking a significant corporate governance milestone. The approval was granted on March 13, 2026, by the company's Compliance Officer in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Trading Plan Details

The approved trading plan encompasses specific parameters designed to ensure regulatory compliance and transparency in share transactions.

Regulatory Compliance Framework

The trading plan submission follows stringent regulatory requirements under SEBI guidelines. The trustees, Mohan Muthuraj and Vasan VMS, submitted comprehensive affirmations confirming their compliance with insider trading regulations. Key compliance elements include:

• Confirmation of no possession of Unpublished Price Sensitive Information (UPSI)
• Assurance that the plan does not overlap with existing approved trading plans
• Commitment to mandatory implementation without deviation
• Agreement to provide immediate notification of trades to the compliance officer

Approval Process and Documentation

Company Secretary and Compliance Officer Mangal Kulkarni processed and approved the trading plan application on March 13, 2026. The approval process involved thorough review of the submitted documentation and verification of regulatory compliance requirements.

Corporate Governance Transparency

The company has demonstrated its commitment to transparency by making the approved trading plan information available on its official website at sonata-software.com under the investor relations section. This disclosure ensures stakeholder awareness and maintains regulatory transparency standards.

The trading plan represents a structured approach to share acquisition by the Employee Welfare Trust, ensuring all transactions occur within the approved framework and timeline while maintaining full regulatory compliance.

Sonata Software Limited has informed stock exchanges about legal proceedings initiated by its US subsidiary against a client to recover significant outstanding receivables. The disclosure was made on March 7, 2026, in compliance with SEBI listing regulations.

Legal Proceedings Details

Sonata Software North America, Inc (SSNA), a subsidiary of the company, has filed legal proceedings against OBSA Operating Company, LLC for collection of accounts receivables and damages. The case has been filed in the United States Bankruptcy Court for the District of Delaware as an involuntary petition under Chapter 7 of the United States Bankruptcy Code.

Financial Implications

The legal proceedings aim to recover outstanding accounts receivables and contractual damages totaling USD 10.64 million. The company has disclosed this information as part of its regulatory obligations under SEBI listing requirements, specifically Regulation 30 of the SEBI LODR regulations.

Company's Financial Outlook

Despite the legal proceedings and potential impact on receivables, Sonata Software has provided reassurance regarding its near-term financial performance. The company stated that it has reviewed its exposure related to this development, including receivables and existing contractual protection.

Key financial expectations include:

• Q4 FY26 profit after tax expected to be accretive compared to Q3 FY26
• Certain one-time offsetting factors anticipated to mitigate impact
• Revenue projections remain aligned with guidance provided during February 6, 2026 earnings call

Regulatory Compliance

The disclosure was made in accordance with Regulation 30(6) read with Schedule III, Part A, Para B (8) of the SEBI LODR and SEBI Circular dated November 11, 2024. The company will continue to provide updates on any changes in the status or developments related to these proceedings as required by regulatory guidelines.